Artificial intelligence presents a stark duality, capable of fostering economic growth and efficiency while simultaneously threatening widespread job displacement and social unrest, according to a panel of experts at the third annual TIME100 AI Impact Dinner. The event, held in San Francisco, brought together leaders in technology, business, and advocacy to discuss the complex implications of machine intelligence.
A central concern among panelists was the future of employment. Glen Fogel, CEO of travel conglomerate Booking Holdings, cited his company's transition from thousands of human translators to an AI-driven system, highlighting the potential for obsolescence in existing professions. He also envisioned AI-powered travel agents that can manage complex itineraries, adapting to unforeseen changes.
Ravi Kumar S, CEO of outsourcing giant Cognizant, suggested that AI could democratize corporate power by shifting capabilities to frontline employees. However, he noted that many companies are not yet implementing this vision. Kumar S proposed temporary taxes on businesses that replace human workers with AI as a means to support a more stable economic transition.
Both Fogel and Kumar S expressed apprehension about the speed of AI adoption and its potential to cause societal disruption. Fogel emphasized the need for government intervention to manage the transition period, stating, "I think government has to have a role in making sure that this transition period is done in a way that we don’t end up in societal disruption." Booking Holdings is reportedly training its employees in AI literacy to aid in their adaptation to a changing job market.
Concerns were also raised about international competition, with Fogel warning that other nations are rapidly developing AI technologies. Kumar S echoed this sentiment, suggesting that if some companies slow down AI adoption while others, including potentially those with "bad actors," do not, the global economic landscape could be significantly destabilized.
Despite these challenges, panelists acknowledged AI's potential benefits. Doreen Bogdan-Martin, Secretary General of the International Telecommunication Union, pointed to countries like Canada and Rwanda that are investing in upskilling their populations. She highlighted innovations emerging from AI-literate youth in developing nations, particularly in agriculture, early warning systems, healthcare, and education.
Bogdan-Martin advocated for international efforts to bridge the digital divide, noting that billions worldwide still lack internet access and generative AI usage is limited. "I’m all about AI for good and AI for all," she stated, stressing the importance of capacity development and access to computing resources to ensure global participation in the AI revolution, not just as consumers but also as producers of innovation.